Credit scoring systems enable creditors to evaluate millions of applicants consistently and impartially on many different characteristics. But to be statistically valid, credit scoring systems must be based on a big enough sample. Remember that these systems generally vary from creditor to creditor.
Although you may think such a system is arbitrary or impersonal, it can help make decisions faster, more accurately, and more impartially than individuals when it is properly designed. And many creditors design their systems so that in marginal cases, applicants whose scores are not high enough to pass easily or are low enough to fail absolutely are referred to a credit manager who decides whether the company or lender will extend credit. This may allow for discussion and negotiation between the credit manager and the consumer.
We've been helping customers afford the home of their dreams for many years and we love what we do.
Company NMLS: 1692428
www.nmlsconsumeraccess.org
VanLeeuwen, Pye & Associates, Inc. NMLS #23742 CAL DRE#010865 Courtland Young CAL DRE#01468400 NMLS#1682428
4627 Antioch Place
San Diego, CA. 92115
Phone: (858) 337-6317
Court@courtlandYoung.com
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